Rio Tinto deal ends mega-mergers, Wall Streeter says

SteveGelsi

NEW YORK (MarketWatch) -- Holland & Co. Chairman Mike Holland said Tuesday that the scuttled $66 billion acquisition of Rio Tinto
RIO, -3.31%RIO, -1.83%
by BHP Billiton
BLT, -3.78%BHP, -2.66%
marks the end of blockbuster mergers for now. "It was a stretch (to close the deal) even in the best of times for commodities," Holland said. A lack of financing and plunging commodity prices, as well as the economic slowdown has put the brakes on major mergers, he said. "It'll be a while before we see a deal like this again," he said.

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